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Abiy urges local investors to develop Genale-Dawa power project

Inaugurating the delayed Genale Dawa (GD-III) hydroelectric power project on Tuesday Prime Minister Abiy Ahmed (PhD) made an appeal to local investors to build the next phase of the hydroelectric project GD-6, in the same river basin that requires an estimated financial outlay of USD one billion.

TAF oil inaugurates aviation fuel depot

One of the indigenous oil companies in Ethiopia, TAF Oil Ethiopia, on Tuesday inaugurated an aircraft fuel depot that it built at the Addis Ababa Bole International Airport at a cost of 450 million birr.

Nigerian firm buys local tech company

Owned by Ethiopian-American entrepreneurs, Apposit LLC, a local technology company known to build innovative software’s, has been bought by Paga (Pagatech limited) – a Nigerian based company known to provide an electronic payment system to Nigeria.

Regulating housing sector

The emergence of low-cost, condominium housing in Ethiopia’s capital has really changed the way people live in this old nation. Strictly speaking most of these residential condominiums, which are structured as a series of apartment buildings sharing a common area and most of the time enclosed in gated compounds, are evolving to be unique urban centers.

IMF recommends NBE shun financing gov’t, DBE

The International Monetary Fund (IMF), in its latest round of the Article IV consultations with Ethiopian authorities, has advised the National Bank of Ethiopia (NBE) to halt financing the government and the policy bank, the Development Bank of Ethiopia (DBE).

FDI inflow drops to USD 2.5 bln

Once a champion in Foreign Direct Investment (FDI) attracting to the tune of USD 4.2 billion, Ethiopia’s FDI has slowed to USD 2.5 billion, landing at the lowest amount recorded since 2016, The Reporter has learnt.